Element79 Gold Corp. — Board/Management Information 2024

May 13, 2024

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Element79 Gold Corp Appoints Warren Levy to Advisory Board

Sustainable Development Leader to Bolster Element 79's Strategic Vision

VANCOUVER, BC / THENEWSWIRE / May 13, 2024 – Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS) ("Element79" , the "Company") is pleased to announce the appointment of Mr. Warren Levy to its advisory board.

With a wealth of experience in sustainability and natural resources opera�ons, Mr. Levy brings a profound understanding of the challenges associated with the industry. His appointment highlights Element 79's commitment to strategic growth, with sustainability as a cornerstone of its opera�onal excellence.

Mr. Levy's career is marked by excep�onal sustainability leadership, including several senior roles where he has le� an indelible mark, notably in the energy and resources sector. Mr. Levy has guided mul�ple companies with foreign opera�ons both as an advisor and board member, leveraging his exper�se in sustainability, opera�onal efficiency and capital raising while fostering posi�ve rela�onships with local communi�es.

Throughout his career, Mr. Levy has demonstrated a remarkable ability to cul�vate high-performance teams across diverse cultural landscapes. His strategic guidance has propelled the expansion of numerous companies in sectors spanning petroleum, mining, and high-tech industries, par�cularly in La�n America and Asia. Author of mul�ple publica�ons, Mr. Levy has contributed to the discourse on energy and natural resource development in La�n America, offering insigh�ul perspec�ves on energy policy and the pivotal role of sustainable development in poverty reduc�on.

"Warren’s philosophy resonates deeply with Element 79’s core values and underscores our commitment to se�ng new standards in opera�onal efficiency," remarked James Tworek, CEO of Element 79. "With the breadth of experience Warren brings to the table, his global experience and opera�onal acumen will bring invaluable insights as we con�nue to shape the Company’s strategic direc�on, fostering sustainable growth while pioneering industry-leading prac�ces."

About Element79 Gold Corp.

Element79 Gold is a mining company focused on gold and silver commited to maximizing shareholder value through responsible mining prac�ces and sustainable development of its projects. Element79 Gold's focus is on developing its past-producing, high-grade gold and silver mine, the Lucero project located in Arequipa, Peru, with the intent to restart produc�on in 2024.

The Company also holds a por�olio of 5 proper�es along the Batle Mountain trend in Nevada, with the Clover and West Whistler projects believed to have significant poten�al for near-term resource development. Three proper�es in the Batle Mountain Por�olio are under contract for sale to Valdo Minerals Ltd., with an an�cipated closing date in the first half of 2024.

In Bri�sh Columbia, Element79 Gold has executed a Leter of Intent and funded a drilling program to acquire a private company that holds the op�on to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central Bri�sh Columbia, approximately 20km west of Fort St. James.

The Company has an op�on to acquire a 100% interest in the Dale Property, 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, and has recently announced that it has transferred this project to its wholly owned subsidiary, Synergy Metals Corp, and is advancing through the Plan of Arrangement spin-out process.

For more informa�on about the Company, please visit www.element79.gold

Contact Informa�on

For corporate matters, please contact:

E-mail: jt@element79gold.com

For investor relations inquiries, please contact: Investor Rela�ons Department Phone: +1.403.850.8050 E-mail: investors@element79.gold

Cau�onary Note Regarding Forward Looking Statements

This press contains "forward-looking informa�on" and "forward-looking statements" under applicable securi�es laws (collec�vely, "forward-looking statements"). These statements relate to future events or the Company's future performance, business prospects or opportuni�es that are based on forecasts of future results, es�mates of amounts not yet determinable and assump�ons of management made considering management's experience and percep�on of historical trends, current condi�ons and expected future developments. Forward-looking statements include, but are not limited to, statements with respect to: the Company's business strategy; future planning processes; explora�on ac�vi�es; the �ming and result of explora�on ac�vi�es; capital projects and explora�on ac�vi�es and the possible results thereof; acquisi�on opportuni�es; and the impact of acquisi�ons, if any, on the Company. Assump�ons may prove to be incorrect and actual results may differ materially from those an�cipated. Consequently, forward-looking statements cannot be guaranteed. As such, investors are cau�oned not to place undue reliance upon forward-looking statements as there can be no assurance that the plans, assump�ons or expecta�ons upon which they are placed will occur. All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predic�ons, expecta�ons, beliefs, plans, projec�ons, objec�ves or future events or performance (o�en, but not always, using words or phrases such as "seek", "an�cipate", "plan", "con�nue", "es�mate", "expect", "may", "will", "project", "predict", "forecast", "poten�al", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward-looking statements".

Actual results may vary from forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertain�es and other factors that may cause actual results to materially differ from those expressed or implied by such forward-looking statements, including but not limited to: the

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actual results of explora�on ac�vi�es; conclusions of economic evalua�ons; changes in project parameters as plans con�nue to be refined; commodity prices; varia�ons in ore reserves, grade or recovery rates; actual performance of plant, equipment or processes rela�ve to specifica�ons and expecta�ons; accidents; labour rela�ons; rela�ons with local communi�es; changes in na�onal or local governments; changes in applicable legisla�on or applica�on thereof; delays in obtaining approvals or financing or in the comple�on of development or construc�on ac�vi�es; exchange rate fluctua�ons; requirements for addi�onal capital; government regula�on; environmental risks; reclama�on expenses; outcomes of pending li�ga�on; limita�ons on insurance coverage as well as those factors discussed in the Company's other public disclosure documents, available on www.sedarplus.ca. Although the Company has atempted to iden�fy important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as an�cipated, es�mated or intended. The Company believes that the expecta�ons reflected in these forward-looking statements are reasonable, but no assurance can be given that these expecta�ons will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. These statements speak only as of the date hereof. The Company does not intend, and does not assume any obliga�on, to update these forward-looking statements, except as required by applicable laws.

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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